Reference no: EM132152671
1. To reduce the cost of holding too much inventory, many companies have implemented
Multiple Choice
- ABC inventory management.
- first-in, last-out inventory control.
- just-in-time inventory control.
- maximum inventory management.
2. Bryant is an outdoorsman. Inspired by his love of hunting and fishing, he started an online company specializing in his favorite hunting and fishing gear. He decided to locate his business near Kentucky Lake, partly because of low labor costs, but mainly because the area offered excellent fishing and hunting opportunities, a low crime rate, and a pleasant climate. Bryant's location decision was strongly influenced by quality of life considerations.
True or False
3. An assembly production process is characterized by long production runs that turn out finished goods over time.
True or False
4. Operations management transforms resources into goods and services. Green Grass Landscaping utilizes equipment, labor, and materials to develop a top notch landscape for its customers. Managing this operation may also involve maintenance services.
True or False
5. The box, "Creating Skilled Workers with German-Style Apprenticeships," asserts that Germany is working to combat the growing skills gap by providing on-the-job education for young workers.
True or False
6. The value added by the creation of finished goods and services from inputs is called ownership utility.
True or False
7. Facility location is the process of selecting a geographic location for a company's operations.
True or False